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President Obama has nominated Louisville entrepreneur Matthew Barzun to be the next U.S. ambassador to Britain.

A major fundraiser for the president, Barzun served as finance chairman for the Obama re-election campaign last fall.

The selection had been rumored since January, when the New York Times noted Barzun, a tech executive, was in the running for the coveted foreign relations position along with Vogue magazine editor Anna Wintour.

Barzun previously served as America’s ambassador to Sweden until 2011.

The nomination is subject to Senate confirmation.

UPDATE:

“I’m so happy for Matthew and his family,” Democratic Congressman John Yarmuth said in a statement. “I know he will again represent our nation with honor and distinction at his new post in London, where he will continue a proud tradition of Kentuckians selected for this prestigious ambassadorship.”

Louisville Mayor Greg Fischer, who appointed Barzun co-chair of the Vision Louisville project, said via Twitter: “An entire city stands proud as Louisville’s own Matthew Barzun is named U.S. ambassador to the United Kingdom.”

Barzun will reportedly step down from the city post to take on the ambassadorship.